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Below is quote on Base metals By Mr. Yash Sawant, Research Associate, Angel Broking Ltd

Industrial metals bounced back from the losses made in the earlier week as widening impact of the pandemic lowered expectation of any early tightening of the monetary policy by US Federal Reserve.

Global central banks infusing liquidity in order to counter the pandemic led economic slowdown helped the Base metals recover from the record lows witnessed in the early months of 2020. 

However, the Federal Reserve officials hinted towards withdrawing the stimulus measures in the policy meet held in July’21 following the solid recovery in the US economy which has kept the industrial metals under pressure.

Markets are expected to have a keen watch on the U.S. Federal Reserve symposium and key US economic data scheduled during this week for cues on the central bank’s stance in the coming months.

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